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Tuesday, 24 October 2017

Leela Parker Deo' s stories

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  • Falling pricing, repayments weigh on BDC earnings

    Loans | 18 August 2017

    Sliding loan pricing and increased repayments are continuing to curb the profitability and growth of Business Development Company funds that lend to private US midsized companies.

  • Conflicting regulations hamper CLO risk retention

    Structured Finance | 21 July 2017

    Two pieces of regulation designed to protect investors could make it more difficult and expensive for funds to lend to mid-sized US companies as managers try to meet rules that require them to hold some of their funds’ risk.

  • Institutional market lures middle market borrowers

    Loans | 09 June 2017

    Middle market lenders are losing higher-yielding assets to the institutional loan market as companies such as US Anesthesia Partners, attracted by the lower spreads, opt to tap the broadly syndicated market, leaving private credit managers to reinvest repayment proceeds at lower yields.

  • Unitranche remains the most expensive execution

    Yields, size hit unitranche market

    Top News | 02 June 2017

    Falling yields and larger deals have wreaked vast changes on the structure of the unitranche loan market and put intense pressure on joint ventures set up by lenders to win business in that niche area.

  • Middle-market lenders resist pricing erosion

    Loans | 26 May 2017

    Credit investors are drawing a line in the sand with regard to the rates at which they are prepared to lend to US middle-market companies, after a wave of aggressive leveraged loan refinancings pulled yields lower in the first quarter of the year.

  • A Coach store in New York

    Coach offers retail M&A blueprint

    Top News | 12 May 2017

    Handbag maker Coach’s US$2.4bn purchase of clothing retailer Kate Spade is the latest indication that US retailers are becoming increasingly willing to borrow to buy rivals and boost profits.

  • Demand for yield fires up US second-lien

    Loans | 13 April 2017

    US investors are turning to higher-yielding second-lien loans as primary spreads on US leveraged loans continue to fall in an aggressive repricing round and new deals remain scarce.

  • Qlik Technologies slashes loan cost

    Loans | 07 April 2017

    Data analytics firm Qlik Technologies is in the market with a US$1.07bn loan refinancing that will halve the interest margin on a highly leveraged loan that it raised from direct lenders less than a year ago, to finance its US$3bn sale to private equity firm Thoma Bravo.

  • BDC sector splitting into ‘haves’ and ‘have nots’

    Loans | 31 March 2017

    The performance of Business Development Companies is diverging into ‘haves’ and ‘have nots’, with some platforms continuing to raise capital and others struggling to perform as conditions in US middle market lending remain challenging.

  • Repricing surge boosts demand for second-lien loans

    Loans | 03 March 2017

    The repricing wave that has swept through the US leveraged loan market is gathering momentum in the riskier second-lien market as tumbling institutional term loan yields open the door to issuers seeking to cut borrowing costs further down the capital structure.

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